R2009-158 AUTHORIZING AN AGREEMENT FOR FY-2010 TRANSIT OPERATING ASSISTANCE GRANT

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In the event that a Grantee receives an amount in excess of the amount provided to be paid to the Grantee above, or the combined state and local operating assistance grants for fiscal year 2010 exceed Grantee's actual operating deficit for that year, Grantee agrees to remit to the State any excess funds received. For purposes of this Agreement, the term "operating deficit" shall have the following meaning set forth in Section 2-2.03 of the Act (30 ILCS 740/2-2.03): "the amount by which eligible operating expenses exceed revenue from fares, reduced fare reimbursements, rental of properties, advertising, and any other amounts collected and received by a provider of public transportation, which, under standard accounting practices, are properly classified as operating revenue or operating income attributable to providing public transportation and revenue from any federal financial assistance received by the participant to defray operating expenses or deficits. For purposes of determining operating deficits, local effort from local taxes or its equivalent shall not be included as operating revenue or operating income." Grantee agrees to commit the necessary local funding to cover costs incurred in providing public transportation which are not reimbursed under this Agreement or by other federal, state or local assistance programs. ITEM 3 - SUBJECT TO APPROPRIATIONS CLAUSE This Agreement is contingent upon the availability of sufficient funds and the appropriation of such funds as required by law. ITEM 4 - PAYMENT PROCEDURES The Department shall make quarterly payments to Grantee for eligible operating expenses upon occurrence of the following conditions: a) The Department receiving, 30 days before the start of a quarter, the required requisition forms and Estimated Quarterly Financial Report for that quarter (see Standard Forms), or, the Department receiving, 30 days after the end of a quarter, the required requisition forms and Actual Quarterly Financial Report for that quarter. b) The Department receiving the Actual Financial Quarterly Report for the first, second, third and fourth quarters no later than December 1, March 1, May 1, and August 1 respectively (see Standard Forms). c) The Department determining if and to what extent the request is for eligible operating expenses incurred in conformity with Grantee's approved application. The Department may make adjustments in the third and fourth quarters to reflect actual eli ible o eratin ex enses for recedin u rt 9 p g p p g q a ers. Grantee agrees that a ment shall not , p y constitute a final determination b the De artment of the Y P allowability of such expense and shall not constitute a waiver of any violation of the terms of this Agreement. The Department reserves the right to offset any payment to satisfy any monetary claims that the Department may have outstanding against Grantee. 2